"....On 9 April, when Winston Peters asked him in Parliament how his statements were consistent with New Zealand foreign trusts requiring no disclosure of identity and no registration or auditing, Mr Key replied: "Because I am right."

In Parliament the following week, Mr Key said that the lawyers who sell New Zealand foreign trusts to foreigners had to keep "hugely detailed information of what is in there" and that the disclosure regimes were "broad and deep".

But repeating something does not necessarily mean it is correct. In fact, independent New Zealand tax specialists already knew that New Zealand foreign tax law allowed this country to be used as a tax haven..."

in support of criminals!

"...what I found was the full range of things people do in the shadows. Arms traders. Billionaires quietly shifting their profits out of impoverished countries. Business people eager to win big contracts in countries with corrupt leaders. Hard core pornographers, hiding the identity of those raking in the profits. Pharmaceutical company money invisibly moved around to buy influence. And, more than anything, huge numbers of people who appeared to be cheating their tax departments.

None of this should greatly surprise readers. Tax havens say they sell "financial services", but what they mostly sell is secrecy..."

Logged

Obi Wan Kanobi said. "I have never seen such a wretched hive of scum and villainy." Little did Obi Wan realize he was describing the National party.